The university — Oregon's largest — raised $39.3 million in its most recent fiscal year. That's more than triple what it raised in fiscal 2010 when it raised $12.8 million.

In the past four years the university has raised $104 million.

"Our donors are inspired by Portland State’s mission of access and its role as a leading urban university," said PSU Foundation CEO Françoise Aylmer, in a news release. "We are grateful for this increased level of support and for the increased number of donors who are engaging with us."

More than 10,800 individuals and organizations contributed in the most recent fiscal year. The money will be used to support students, faculty and building projects.

Aylmer was appointed to her position in June. The foundation has since been restructured to maximize its ability to raise money.

In a news release, Portland State said 20 years ago state funds covered 80 percent of the cost of higher education. That's been reduced to 12 percent, according to Portland State. The average graduate has $26,000 in debt.